Online advertising now makes up a quarter of all advertising money spent in the UK, according to new figures.
The value of advertising via the internet reportedly grew by 12.8% in 2010, three times more rapidly than in 2009. The online advertising sector was the largest growing of all platforms, outpacing things such as television, radio and print media.
According to Guy Phillipson, chief executive of the Internet Advertising Bureau (IAB), big brands restoring their advertising budgets following the recession is one of the big reasons behind internet’s success.
Social Media advertising, on platforms such as Facebook was the largest growth area, with a staggering 200% increase.
Along with social networking sites, online video advertising also saw a jump, with £54m being spent on adverts that appear before or after video clips, however, the largest earner was once again search engine giant Google, although search advertising growth was a much more subdued 8%.
The IAB have stated they expect online advertising to continue to become a much bigger part of business in the future, with more platforms becoming available and broadband improving.
With such impressive online advertising stats, you have to ask yourself, is my company doing enough online? and if not, you need to do something about it.
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